THE PART OF WOOL

Southland Times, Issue 23182, 24 April 1937, Page 14

THE PART OF WOOL

There is still ample evidence to justify growers in an optimistic attitude towards the next wool-selling season. The fourth and final sale at Dunedin this week exceeded expectations for crossbred and halfbreds, and it is estimated that this year’s clip in Otago will realize a total of at least £2,250,000 compared with £1,314,614 for the 1935-36 season and £776,241 for the four auctions in 1934-35. That is an impressive comparison, and it affects many Southland growers since a good deal of wool from the Eastern District is sold on the Dunedin market. An estimate of the returns from Dominions auctions up to March 28 was approximately £15,000,000. It is apparent that the consuming countries are still unsatisfied. No doubt the tremendous increase in building in most countries with the consequent demand for carpet wools is an important factor. Stocks everywhere appear to be barely sufficient for immediate requirements, and the trend of this season has left prospects for next year that encourage growers to ignore the warnings that always follow in the wake of high values. They should be heeded, at any rate in the direction that this is the time to concentrate on building up quality and establishing wool so that it can hold its ground against the threat of substitutes. High prices for wool naturally provide an opening for cheaper substitutes, but synthetic wools cannot stand the quality comparison, and the world prefers to pay for wool if prices of the manufactured goods are reasonable. That is a danger which should not be overlooked, but wool has done its duty to the Dominion this season. It has given, every assistance towards the re—covery from economic difficulties, a fact which, if it needs to be stressed, is illustrated by a comparison between this season’s return and the record of 1918-19— £14,755,000.